Elena
17 Aug, 2007
New York City
The company said its earnings jumped 29% to $1.78 billion, or 66 cents per share, higher from the $1.38 billion, or 48 cents per share a year ago. Excluding one-time charges, HP earned 71 cents per share, beating the average analyst estimate of 66 cents a share. The tech giant reported 16% sales increase, totaling $25.38 billion. The stock edged down 0.11% in pre-market trading.
123jump.com Staff
16 Aug, 2007
New York City
It was a volatile and wild trading in New York. Market averages fell quickly at the open and fell more than 2% by mid-day. In the last thirty minutes averages made a sharp reversal and recovered almost all the losses. S&P 500 managed to close higher but Dow and Nasdaq suffered fractional losses. European markers closed lower, led by 4.1% decline in the UK. Chile and Brazil lost more than 3%. In Asia, Korea and Malaysia plunged 7%.
123jump.com Staff
16 Aug, 2007
New York City
FTSE 100 Index in London fell 4.1% as investors avoided mining and financial stocks. Of the 102 stocks listed in the index, all members declined. The steep decline in the index was widespread across the European region. Of th FTSE 100 stocks 30 stocks dropped more 5% and the rest declined between 1% and 4.9%. Antofagasta led the decliners with a loss of 11%. British Land lowered its earnings outlook and Royal Mail earnings fell on higher overhead.
Elena
16 Aug, 2007
New York City
European stock markets plunged Thursday, making the biggest one-day dip since the Iraq war. Stocks were dragged down by growing credit-market woes along with a heavy sell off in the shares of metals producers and financial services firms. Shares of asset manager Invesco dropped 6.5%, while Asian-focused bank Standard Chartered moved down 7.6%. London led decliners, down 4.1%, falling below the 6,000 level. France tumbled 3.3%, while Germany declined 2.4%.
Elena
16 Aug, 2007
New York City
U.S. stocks extended losses, reflecting weaker-than-expected housing data which is adding to recent concerns about the outlook for the housing market. Countinuing subprime mortgage woes and tightening lending standards also weighed. Countrywide Financial fell 15% after it drew on an $11.5 billion line of credit to fund its operations. The Federal Reserve injected another $17 billion of liquidity into the banking system.
123jump.com Staff
16 Aug, 2007
New York City
Sensex in Mumbai trading fell sharply reflecting Asia-wide decline. The Sensex opened lower after Independence Day holiday and fell sharply in the final hour of trading. Banks, real estate, and steel stocks led the declining stocks. DLF is in a deal to purchase DCM Shriram controlled textile mill complex for whopping 1,600 crore rupees. Tax collections are running 11% higher than a year ago according to Finance Ministry.
Elena
16 Aug, 2007
New York City
Wall Street posted a notable decline at opening Thursday, pressured by data showing a deepening slump in the housing market and news that the U.S. largest mortgage lender Countrywide Financial was drawing on an $11.5 billion line of credit to fund its operations. The stock slid 13%. Shares of luxury home builder Hovnanian Enterprises dropped 10%, while home builder Lennar was down 5.8%.
123jump.com Staff
16 Aug, 2007
New York City
Asian markets fell across the region as investors acted on fear that wider losses in the credit market may be coming in the U.S. mortgage industry. South Korea led the decliners with a drop of 7% followed by similar losses in Malaysia, Indoneisa, and Philippines. India lost 4.5%. Singapore and Hong Kong lost 3% and Japan fell 2%. China Mobile earnings jump. Li & Fung in Hong Kong surge 5% on earings. Korean banks fell.
Elena
16 Aug, 2007
New York City
U.S. stock futures plunged on Thursday, following a heavy sell-off the previous session as well as economic data showing new home construction at a 10-year low. Housing starts fell 6.1% in July to a seasonally adjusted annual rate of 1.381 million, lower than the expected fall to 1.40 million. Countrywide''s decision to tap its entire credit line and a hint from a FedReserve official that there won''t be a rate cut soon further weighed on sentiment.
123jump.com Staff
16 Aug, 2007
New York City
Asian markets were battered as investors sold stocks across the region. Banking and real estate stocks declined on the worries of rising mortgage market turmoil in the U.S. Nikkei 225 fell 2%. Of the stocks in the index 196 fell reflecting a broad sell-off in the market. South Korea plunged 7%. Most markets in Asia fell between 3% and 6%.
Elena
16 Aug, 2007
New York City
J.C. Penney Co. posted nearly 2% earnings increase in Q2 to $175 million, or 78 cents a share, from continuing operations, compared with the year-ago profit of $178 million, or 75 cents a share. Looking ahead, J.C. Penney raised its full-year earnings forecast by a penny to $5.50 a share, above the average analyst estimates for $5.48.
123jump.com Staff
15 Aug, 2007
New York City
FTSE traded lower in the afternoon reflecting the general weakness in the European markets. Investors remained cautious after the U.S. credit market volatility continue to dominate news. The Bank of England minutes of meeting showed that committee members voted unanimously to keep rate unchanged. Northern Rock fell 5.3% leading the losers in the FTSE 100 stocks.
123jump.com Staff
15 Aug, 2007
New York City
Home builders and mortgage lenders stocks declined to a new low after falling steeply for the fourth day in a row. Home builders are now trading at nearly 4-year low. Beazer Homes lost nearly 30% of its value in the last four days of trading, Pulte Homes has lost 15%, and Lennar lost nearly 25% in the last two months of trading. Countrywide and Washington Mutual have faced a wave of selling in the last one week of trading.
123jump.com Staff
15 Aug, 2007
New York City
Credit markets failed to calm despite additional $7 billion liquidity pumped in the market by the Federal Reserve Bank in Washington. Nasdaq led the three averages with a loss of 1.6% followed by losses of 1.4% in S&P 500 and Dow. Of 30 stocks in Dow 29 fell and 424 stocks in S&P 5000 closed lower. Asian and European markets closed lower on credit market volatility. Argentina and Indonesia plunge more than 5%.
Elena
15 Aug, 2007
New York City
European stock markets finished in the negative Wednesday for a second day in a row, dragged down by continuing weakness in the financial sector. Banking firms Deutsche Bank and UBS were under pressure amid concerns about the impact of U.S. subprime mortgage market troubles. France fell 0.7%, followed by the U.K which declined 0.6% and Germany, losing 0.3%.
